Hello everyone! Welcome to today's morning review. This is Jiaoshou's trend analysis. We update BTC trend analysis every day and look forward to your likes and attention!
1. K-line pattern analysis
As can be seen from the figure, BTC formed a small positive line with a long lower shadow today. The opening price was 60726.4 USDT, the highest price was 61144.3 USDT, the lowest price was 59800.0 USDT, and the closing price was 60894.1 USDT. This K-line pattern shows that the long and short sides are competing fiercely in the current price range, and the long side has a slight advantage.
2. Technical indicator analysis
Moving Average (MA)
MA(5)：60263.6 USDT
MA(10)：60650.3 USDT
MA(30)：61610.3 USDT
From the perspective of moving averages, the short-term moving averages (MA(5) and MA(10)) show a downward trend, indicating that the market is still in a downward trend in the short term. However, the medium-term moving average (MA(30)) is slightly flat, indicating that the medium-term trend still needs to be observed.
Bollinger Bands The middle track of the Bollinger Bands is 61144.3 USDT, the upper track is 62416.3 USDT, and the lower track is 59866.3 USDT. The current price is between the lower and middle tracks of the Bollinger Bands, indicating that the market has a certain upward pressure in the short term.
Volume Today’s volume is 5.6K BTC, which is an increase from the previous few days. The increase in volume indicates that market participation has increased, and as prices fluctuate, there is a certain degree of uncertainty in the short term.
As of 8:00 today, 915,100 long orders were liquidated and 591,600 short orders were liquidated.
3. Price trend analysis
Combining the K-line pattern and technical indicator analysis, the future price trend of BTC may have the following situations:
Short-term fluctuations As the price fluctuates below the MA(5) and MA(10) moving averages and the trading volume has increased, the price may fluctuate in the range of 60000.0 USDT to 63000.0 USDT in the short term. If this range can be effectively broken through or broken, it will have a significant impact on the subsequent trend.
If the price can effectively break through the resistance level of 63000.0 USDT, it indicates that the bulls are stronger and the price is expected to rise further to above 65000.0 USDT. At this time, we need to pay attention to the coordination of trading volume. If the trading volume continues to increase, the price increase will be more sustainable.
4. Specific operation points
Go long
Long point 1: When the price pulls back to around 60000.0 USDT, you can consider going long in batches, and set the stop loss below 59000.0 USDT. This position is close to the short-term support level and has a good risk-reward ratio.
Long position 2: If the price effectively breaks through the resistance level of 63000.0 USDT, you can consider going long and set the stop loss below 62000.0 USDT. This position indicates that the bulls are strengthening and are expected to continue to rise.
Short position
Short position 1: When the price fails to break through 63000.0 USDT and falls back, you can consider shorting in batches, with the stop loss set above 64000.0 USDT. This position indicates that the market is under pressure and there is a downside risk in the short term.
Short position 2: If the price effectively falls below the support level of 60000.0 USDT, you can consider shorting, and set the stop loss above 61000.0 USDT. This position indicates that the short position is strengthened and is expected to continue to fall.
Stop loss 1: 59000.0 USDT (corresponding to 60000.0 USDT long point)
Stop loss 2: 62000.0 USDT (corresponding to 63000.0 USDT long point)
Stop loss level 3: 64000.0 USDT (corresponding to 63000.0 USDT short point)
Stop loss 4: 61000.0 USDT (corresponding to 60000.0 USDT short position)
VI. Summary
The current price trend of BTC shows that it may continue to fluctuate and consolidate in the short term, testing the resistance level of 63000.0 USDT. If the price can effectively break through this resistance level, it is expected to rise further to above 65000.0 USDT; if it falls below the support level of 60000.0 USDT, it may continue to fall to 59000.0 USDT or even lower.
With many years of experience in the cryptocurrency industry, I am proficient in mid- and long-term layout and short-term high-quality coin capture. As an evangelist for blockchain industry education, I combine the underlying logic of the market and emotional fluctuations to share accurate trading strategies.
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